Red 5 alludes to more potential suitors


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14 shares, 49 points

Business News

New goldminer has told the market it is on track to hit commercial production at King of the Hills before the end of the year, with merger and acquisition discussions still on the table.

has been central to much speculation about consolidation in the Leonora gold region and this morning indicated that it had been approached by other parties, aside from St Barbara, regarding a transaction.

confirmed in September that the pair had been in ongoing consolidation discussions regarding potential ‘operational synergies but today hinted at other potential suitors.

“As previously announced in the Company’s investor presentation on 29 September 2022, participates in strategic discussions from time to time,” ‘s statement read. 

“Separate to the ongoing discussions referenced in that presentation, has been approached by other interested parties in relation to transactions, including consolidation, acquisition and merger.

“The Board has determined to continue discussions and diligence investigations with relevant interested parties regarding a potential transaction.”

However, iterated there was no guarantee a transaction would proceed.

The miner also advised that it was on track to hit commercial production at its flagship gold opera…

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49
14 shares, 49 points

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